The White House says that crypto mining operations could get in the way of climate change efforts and that they may have to do something about crypto miners.
The White House said that “electricity usage from digital assets is contributing to GHG emissions, additional pollution, noise, and other local impacts, depending on markets, policies, and local electricity sources.”
Recent studies show that cryptocurrencies use less than half the energy of traditional banking. But crypto, which is decentralized and out of government reach by definition, well, you can see why the government would want to intervene. For the earth, of course.